A grace-full mortgage dispute

CitiMortgage complained that a borrower made his mortgage payments late under a Trial Period Plan, and was thus ineligible for a loan modification. The borrower countered that he satisfied the TPP’s grace period for payments and the Fifth Circuit agreed: “[T]he TPP establishes a grace period. It accepts payment so long as it is made ‘in the month in which it is due.’ Neither the TPP nor the parties use the term ‘grace period’ to describe this language. But that is plainly what the text contemplates. And no one disputes that Burbridge’s payments comply with the governing grace periods.” Burbridge v. Citi Mortgage, No. 21-40309 (June 16, 2022).